Dr Reddy's Laboratories Enters Race To Acquire US-Based Biogen's Biosimilars

According to reports, Intas Pharmaceuticals Limited, another Indian firm, is also in contention in this acquisition. Additionally, Samsung Bioepis Co. Ltd is also being considered as a potential buyer for the portfolio.

Dr Reddy's Laboratories Limited (BSE:500124) has joined the race to acquire the biosimilar products portfolio of Biogen Inc. (NasdaqGS: BIIB), a US-based company in a deal valued at up to $1 billion.

Reportedly, Intas Pharmaceuticals Limited, another Indian firm, is also in contention in this acquisition. Additionally, Samsung Bioepis Co. Ltd is also being considered as a potential buyer for the portfolio.

Previously, the US-based biotech company, collaborated with Samsung Biologics, a production unit of Samsung biosimilars, to establish Samsung Bioepis in 2012 focusing on biosimilar development.

However, in a significant development, Biogen sold off its stake in Samsung Bioepis at $2.3 billion as a part of its exit from the biosimilar sector, in February 2022.

Earlier in July this year, Dr Reddy's Laboratories Limited made a strategic decision to choose Amazon Web Services (AWS) as its cloud provider. In a collaborative effort, Dr Reddy's migrated its entire SAP platform to AWS, aiming to accelerate the development of healthcare applications and enable better patient progress tracking for healthcare providers.

Founded in 1984, Dr Reddy's Laboratories is an Indian multinational pharmaceutical company based in Hyderabad. The company aims to provide affordable and innovative medicines for healthier lives while fostering an environment of innovation and continuous learning while striving for higher levels of efficacy.

The company further plans to launch three products every year to improve the standard of care. Furthermore, the company targets to triple their reach and touch over 1.5 billion patients by the year 2030.